InnerWorkings, Inc. (NASDAQ:INWK) Position Boosted by Bank of America Corp DE

Bank of America Corp DE raised its position in InnerWorkings, Inc. (NASDAQ:INWK) by 2.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 469,255 shares of the business services provider’s stock after buying an additional 12,575 shares during the period. Bank of America Corp DE owned about 0.88% of InnerWorkings worth $4,674,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of INWK. Dimensional Fund Advisors LP boosted its stake in InnerWorkings by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,603,057 shares of the business services provider’s stock worth $45,846,000 after buying an additional 26,438 shares in the last quarter. Vanguard Group Inc. boosted its stake in InnerWorkings by 5.2% in the first quarter. Vanguard Group Inc. now owns 3,509,465 shares of the business services provider’s stock worth $34,955,000 after buying an additional 173,364 shares in the last quarter. Eagle Boston Investment Management Inc. boosted its stake in InnerWorkings by 5.7% in the first quarter. Eagle Boston Investment Management Inc. now owns 1,074,509 shares of the business services provider’s stock worth $10,702,000 after buying an additional 57,588 shares in the last quarter. FMR LLC boosted its stake in InnerWorkings by 9.0% in the fourth quarter. FMR LLC now owns 957,231 shares of the business services provider’s stock worth $9,428,000 after buying an additional 78,900 shares in the last quarter. Finally, Kennedy Capital Management Inc. boosted its stake in InnerWorkings by 4.5% in the first quarter. Kennedy Capital Management Inc. now owns 744,494 shares of the business services provider’s stock worth $7,415,000 after buying an additional 32,325 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Shares of InnerWorkings, Inc. (INWK) traded up 0.47% during mid-day trading on Friday, reaching $10.65. The company’s stock had a trading volume of 236,564 shares. InnerWorkings, Inc. has a 52-week low of $8.07 and a 52-week high of $11.94. The firm has a 50 day moving average price of $11.48 and a 200 day moving average price of $10.52. The firm has a market cap of $569.96 million, a price-to-earnings ratio of 30.96 and a beta of 1.59.

InnerWorkings (NASDAQ:INWK) last announced its quarterly earnings data on Monday, August 7th. The business services provider reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The firm had revenue of $279.53 million during the quarter, compared to analysts’ expectations of $282.62 million. InnerWorkings had a return on equity of 8.84% and a net margin of 1.76%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 EPS. On average, equities analysts predict that InnerWorkings, Inc. will post $0.48 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “InnerWorkings, Inc. (NASDAQ:INWK) Position Boosted by Bank of America Corp DE” was originally reported by BNB Daily and is the sole property of of BNB Daily. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://www.baseball-news-blog.com/2017/08/13/bank-of-america-corp-de-acquires-12575-shares-of-innerworkings-inc-nasdaqinwk-updated.html.

A number of analysts have recently issued reports on INWK shares. Zacks Investment Research upgraded InnerWorkings from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Tuesday, May 30th. Wunderlich restated a “buy” rating and set a $15.00 price objective on shares of InnerWorkings in a research report on Friday, June 30th. BidaskClub cut InnerWorkings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Barrington Research boosted their price objective on InnerWorkings from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Wednesday, May 10th. Two research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. InnerWorkings has an average rating of “Hold” and an average target price of $13.33.

InnerWorkings Company Profile

InnerWorkings, Inc is a marketing execution company. The Company’s software applications and databases create an integrated solution that stores, analyzes and tracks the production capabilities of its supplier network, as well as detailed pricing data. The Company’s segments include North America and International.

Institutional Ownership by Quarter for InnerWorkings (NASDAQ:INWK)

Receive News & Ratings for InnerWorkings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InnerWorkings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply